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Brain Circuits

Are you taking care of the 5 factors necessary for a healthy family business?

IbyIMD+ Published 23 September 2021 in Brain Circuits • 3 min read

Did you know only 30% of family-owned businesses make it through to the second generation? This somewhat sobering statistic sheds light on the challenges of maintaining a successful family business. Through years of research and working closely with family-owned businesses we have identified five areas that capture the focus of successful and long-lasting family enterprises. Are you giving sufficient attention to each?

Personal health and wellbeing

It is important that each family member looks after their own physical and mental health. When family businesses are heavily controlled by one person, if that person suddenly falls ill it can turn operations upside down. To contribute to family enterprises in a meaningful way each member who participates needs to care for their own…

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